 "Stanley Lifestyles soars 7% after investor Mukul Agrawal buys 1.58% stake")
Shares of Stanley Lifestyle surged up to 6.7 per cent at Rs 519.25 per share on the BSE in Monday’s intraday deals after ace investor Mukul Agrawal bought a 1.58 per cent stake in the company.
The investors' name appeared in the September 2024 shareholding pattern of Stanley Lifestyles, holding 9,00,000 equity shares of the company, representing a 1.58 per cent stake. As a rule, the name of shareholders only appears when they have a stake of 1 per cent or more in any company.
Stanley Lifestyles, a leading player in the furniture industry for over a decade, caters to customers across the super-premium to ultra-luxury segments. While the company has achieved significant market share, its long-term vision is to expand its presence across all customer segments at various price points.
Between FY21 and FY23, Stanley Lifestyles reported impressive growth, with a 46 per cent compound annual growth rate (CAGR) in revenue and a 67 per cent CAGR in Ebitda The company expects organic growth of 25-30 per cent over the medium term. Over the years, the company has evolved its product offerings, achieving significant scale and maintaining high profitability across the mass, luxury, and ultra-luxury segments.
Stanley Lifestyles debuted on the Indian stock exchanges on June 28, 2024. Its shares made a strong entry, listing at Rs 499, a 35 per cent premium over its issue price of Rs 369 on the BSE. Till date the stock price has surged 40.71 per cent over the issue price.
Analysts at Reliance Securities noted in their IPO review that factors such as improved lifestyles, a growing number of households, and the trend of second homes will continue to drive growth. The management is committed to expanding market share and increasing its customer base in the coming years.
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The company has a total market capitalisation of Rs 2,919.28 crore. At 12:58 PM, the stock price of the company was trading 5.18 per cent higher at Rs 511.55 a piece on the BSE. By comparison, the BSE’s Sensex was down 0.29 per cent to 80,993.09 level.